Personal Money Market Account
Personal Money Market Deposit Accounts (MMDAs) are available to individuals who seek higher rates of interest with limited check writing and transfer capabilities. A minimum initial deposit of $1,000 will open a MMDA which earns a fluctuating rate of interest that increases depending on the account's daily ledger balance. If the account balance falls below $1,000 at any time during the statement cycle, a $10 account maintenance fee will be assessed.
Federal law limits a MMDA to six withdrawals during a statement cycle. An excessive withdrawal fee of $10 will be charged for each withdrawal in excess of six during a statement cycle. We are required by law to close or reclassify a MMDA with three or more withdrawal infractions during a twelve-month period.
Preferred Money Market Account
A Preferred Money Market Account is a Higher Rate, Higher Minimum account that requires a minimum initial deposit of $10,000 of funds that are currently not on deposit at Home State Bank. In addition, you will also need to maintain a Personal Checking Plus (NOW) account;OR a non-real estate consumer loan; OR a Home Equity Line of Credit at Home State Bank in order to retain the Preferred Money Market Account and receive the higher rates.
Benefits:
- Rates are tiered based on collected balances!
- Get higher rates for higher balances!
- Have ready access to your funds while earning more!
- Rates are variable, so ask about today's great rates!
